Archive for April 2023

Twitter, the social media giant that was acquired by Elon Musk last year, has announced a new feature that will let its users access stocks, cryptocurrencies and other financial assets through a partnership with eToro, a social trading company. Starting Thursday, Twitter users will be able to view market charts on an expanded range of…

The G20, a group of 20 major economies, is working on a global framework to regulate cryptocurrencies and address the risks they pose to financial stability and tax compliance. The initiative comes amid growing adoption of crypto-assets for various purposes, such as investment, payment and speculation. The G20 has asked the Financial Stability Board (FSB),…

Ethereum, the second-largest cryptocurrency by market capitalization, is preparing for a major upgrade on April 12th 2023. The upgrade, dubbed Shanghai, will introduce several changes to the network, including unlocking billions of dollars worth of ether (ETH) that have been staked since late 2020. Shanghai is the final phase of Ethereum’s transition from a proof-of-work…

The Bank of England (BoE) is reportedly planning to hire a team of up to 30 people to work on a central bank digital currency (CBDC), according to the Sunday Times. A CBDC is a new form of digital money that would be issued and backed by the central bank, and could be used by…

Turkey is facing a severe economic crisis, with soaring inflation, unemployment, and currency devaluation. The Turkish lira has lost more than 40% of its value against the US dollar in 2021, reaching a record low of 18.5 lira per dollar in November. The situation has been worsened by political instability and frequent changes in the…

A recent discovery by a technologist has sparked a wave of speculation that the late Apple co-founder Steve Jobs may have been the mysterious inventor of bitcoin, the world’s largest cryptocurrency. Andy Baio, a former chief technology officer of Kickstarter and founder of XOXO Festival, wrote in a blog post on April 5 that he…

The European Union is preparing to introduce a comprehensive set of rules for crypto assets in 2024, but a senior official at the European Central Bank (ECB) has warned that the proposed framework has some flaws and needs to be revised. Elizabeth McCaul, a member of the ECB’s supervisory board, wrote in a blog post…

Binance Australia, a subsidiary of the world’s largest cryptocurrency exchange by trading volume, has lost its license to offer derivatives products in the country. The Australian Securities and Investments Commission (ASIC) announced on Thursday that it has cancelled the Australian financial services license held by Oztures Trading Pty Ltd, which operates as Binance Australia Derivatives.…

PostFinance, a Swiss state-owned retail bank, has announced that it will soon offer its 2.5 million customers access to cryptocurrency trading and storage services. The bank has partnered with Sygnum Bank, a regulated digital asset bank, to provide a range of crypto products via Sygnum’s B2B banking platform. According to a press release on April…

Ether (ETH), the native cryptocurrency of the Ethereum blockchain, has been gaining momentum in the past few days, outperforming bitcoin (BTC) by 14% this year. According to a research report by Bernstein, one of the main drivers of ether’s rally is the upcoming Shanghai upgrade of the Ethereum network, which is scheduled for April 12.…

Binance, one of the world’s largest cryptocurrency exchanges, has announced that it is expanding its services in Argentina, a country that has been struggling with high inflation and strict capital controls. The exchange said that it will allow users to buy and sell digital currencies directly with Argentine pesos through a local partner, making it…

Bittrex, a cryptocurrency exchange founded in 2014 by three Amazon alumni, has announced that it will shut down its US operations due to regulatory challenges. The exchange cited a regulatory environment that has made it “no longer feasible” to operate in the country.  Bittrex’s US operations will wind down effective April 30, 20232. However, its…